Depreciation & Tax Incentives – Koste Chartered Quantity Surveyors

1. What is the Instant Asset Write-Off?

Short Answer:

The Instant Asset Write-Off allows eligible businesses to immediately deduct the cost of qualifying assets instead of depreciating them over time.

Key Details:

✔ Available to small and medium-sized businesses under ATO rules.
✔ Applies to business-related assets like office furniture, machinery, and IT equipment.
✔ The threshold changes each year based on government updates.

📌 Find Out If Your Business Qualifies: Talk to an Expert

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2. Can Property Investors Use the Instant Asset Write-Off?

Short Answer:

No, the Instant Asset Write-Off only applies to businesses, not individual property investors.

However, investors can still claim:

✔ Division 40 Depreciation on new plant & equipment (e.g., carpets, air conditioning).
✔ Division 43 Capital Works Deductions for eligible construction costs.

📌 Maximise Your Property Tax Deductions: Request a Tax Depreciation Report

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3. What Business Assets Qualify for the Instant Asset Write-Off?

Short Answer:

Businesses can claim most work-related assets, including:

✅ Office Equipment & IT Infrastructure – Computers, printers, and telecommunication systems.
✅ Machinery & Tools – Workshop and industrial equipment.
✅ Furniture & Fit-Outs – Office desks, chairs, and reception areas.

📌 Check Your Asset Eligibility: Book a Consultation

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4. Can Businesses Claim Depreciation & Instant Asset Write-Offs Together?

Short Answer:

Yes! If an asset does not qualify for the Instant Asset Write-Off, it can still be depreciated over time using a standard tax depreciation schedule.

Example:

✔ Office Fit-Out ($50,000) → Eligible for Instant Asset Write-Off (if within the threshold).
✔ Building Structure ($500,000) → Claim Depreciation Over Time (Division 43).

📌 Get Expert Guidance on Business Asset Depreciation: Speak to Koste

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5. How Do I Apply the Instant Asset Write-Off in My Tax Return?

Short Answer:

Your accountant will apply the deduction when lodging your tax return, using records from your purchases.

Steps to Claim:

1️⃣ Purchase an eligible asset for business use.
2️⃣ Ensure it falls within the ATO’s asset write-off threshold.
3️⃣ Provide the invoice & documentation to your accountant.

📌 Need a Depreciation Report for Other Business Assets? Request a Quote

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6. How Does Koste Help Business Owners with Depreciation?

Short Answer:

Koste provides comprehensive tax depreciation reports to help business owners claim all eligible deductions, including those not covered by the Instant Asset Write-Off.

Why Work with Koste?

🚀 Accurate Depreciation Schedules – Ensure every eligible deduction is claimed.
🚀 Chartered Quantity Surveyors (AIQS & RICS) – Professional, audit-ready reports.
🚀 Capal Technology – Ensures accurate asset categorisation for tax purposes.

📌 Maximise Your Business Tax Deductions: Book a Consultation